B2B Cloud Manufacturing Startup Frigate Raises $1.5 Million Seed Funding Frigate will use the fund raised to expand its digital manufacturing ecosystem to cater to its global customer base
By Teena Jose
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Manufacturing startup Frigate has raised $1.5 million in a Seed funding round led by Arali Ventures along with participation from Capital-A, Java Capital, and other strategic angel investors. Frigate will use the fund raised to expand its digital manufacturing ecosystem to cater to its global customer base.
"On the demand side, Frigate® provides manufacturing-as-a-service to global customers, offering globally competitive pricing, better lead time, and Best in class manufacturing with quality. Our customers consider us as an extended supply chain partner from New Product Development to Mass production. Frigate is helping overseas customers who are looking at China +1 policy to set up a manufacturing base in India," said Dr.Tamizhinian Vasanthan, founder and CEO, Frigate.
The company also stated that on the supply side, Frigate® has partnered with more than 200 manufacturing partners, known as Frigaters located in tier 2 cities such as Coimbatore, Trichy, Hosur, Jamnagar, Ludhiana, Kolhapur and Kolar. Additionally by leveraging technology in utilizing their spare capacity, Frigate helps these partners by increasing their revenue from customers globally.
"The manufacturing sector from India has significant tailwinds driving it forward. The B2B manufacturing business is poised like IT services was in the late 90s. OEMs, especially in new age industries, across the globe are looking for long term partners who will help them build out their vendor development, contract manufacturing partners and supply chain capabilities; the Frigate team with its all round manufacturing, new product development and operations management capabilities is best suited to execute on this going forward," said Arun Raghavan, managing partner, Arali Ventures.
Frigate is on a mission to 'Make Manufacturing Easy' for Global Industrial OEM, ODM, and product companies by helping them convert their digital designs to physical products from sampling to full-scale manufacturing. The company further claimed that it is strengthening its team across India and globally to support business development and Supply Chain Management, Technology and Finance. Also, this is Frigate's second round of funding. Earlier the company had raised its pre-Seed round of $185,000 through strategic angel investors and founders in April 2022.
